Don't Believe The Hype

[paulr33]

so what does it mean for you? what are you seeing in your workplace?

do you know any friends directly affected? got any tips to help a brother out?

with the pending stimulus package knocking on our door what are your plans to spend it on?

its going to get worse but its pretty bad now

try not to take it all too seriously and be safe

dont forget to have fun and enjoy things even though they are bad

[paulr33]

the us market is mangled and getting worse

the UK is printing money and has 0.5% interest loans!!!

[(B1) MR_fanny]

if your financially tied down with mortages and loans and kids and stuff its very rocky hey. My mate had to lay off 30 people from his department. Imagine, 30 out of employment just like that. It's a hard world we live in now.

plan for the worst and you should be prepared maybe? Did you all see the footage in the US of lines of people looking/applying for work?

[Kaz200]

meh I got no worries

should see the budget for this year!

[RBPOWA-(TJ)]

i work in earthmoving/landfill so do three of my brothers.

think were pretty safe, people cant burry there trash in there backyard can they !

but i do feel for the people who have lost jobs, when we get bad rain at work its shutdown till its safe again. might be a few days could be a week!

that hurts the wallet!

[R31Nismoid]

if your financially tied down with mortages and loans and kids and stuff its very rocky hey.

IMO thats more to do with people living beyond thier means as much as tied down etc.

Also a result of the banks somewhat giving people more money than they should have because people are dumb and blindly said "ye ok ill take it" and suddenly prices went up that much its screwed it for everyone! Most of the people i know will be safe/fine, i highly doubt any will be in any form of trouble because as i said - they live within thier means not down to the $100 left over per week in thier pay because they overstretched and accured massive credit card debt

[JDMPWR]

glad i dont have a credit card or owe any loans.

my stimulus $$ will be spent towards a HPI exhaust manifold i rekon

[R31Nismoid]

glad i dont have a credit card or owe any loans.

my stimulus $$ will be spent towards a HPI exhaust manifold i rekon

Similar to me, i have no credit card debt, and only minor debts elsewhere which i cleared up as soon as this whole world money stuff started coming about so im just kicking back

[llama_au]

My works busier than ever. My job is safe

My $$$ will go into rego and loan. Not what I should be spending it on, but I really need to

[some_cs_student]

Also a result of the banks somewhat giving people more money than they should have because people are dumb and blindly said "ye ok ill take it" and suddenly prices went up that much its screwed it for everyone! Most of the people i know will be safe/fine, i highly doubt any will be in any form of trouble because as i said - they live within thier means not down to the $100 left over per week in thier pay because they overstretched and accured massive credit card debt

Clearly your confusing our banks with another countries, they said "She'll be right, mate"

The IT department is undergoing re-structure so everyone is edgy, I'm a consultant there so I should not be effected from what I can tell

However my company has cut ~80 jobs so far from its 1280 person workforce, I think more cuts may be occurring now as they tighten things up...

[_bobo_]

not to uptodate with whats been happening but all i know is i had a chat with my mate whose family owns n works at

la porchetta boxhill and he said hes noticing how much the business has died down recently since all this talk bout recession.

feel sorry when i hear things like this about businesses slowing down.

[Do-Luck]

My job is pretty secure, however I will have to do some more interstate work (I'm an electrician), as we have very little projects coming up in Melbourne. I'm finishing one off now, but other than that there isn't really much more.

We have some O/S work coming up towards the end of the year though, such as Dubai and Oman, so I'll definately put my hand up for some tax-free dollars.

[jakez88]

work in kmart casually. don't think they give a crap about the recession because they've even extended business hours all the way to 12am monday to friday and on saturday and sunday open a extra hour even though they aren't getting any more customers.

so they are paying more for over heads, paying more for wages and are hardly getting any customers from 9pm-12am. not complaining though cause i always have guaranteed shifts

[funkymonkey]

yeah my workloads actually increased since all this and we've been conducting business as usual. had one layoff but that's cos the guy was a bad employee, not cos of a crisis. We've been taking on more international contracts though, and most of our clients are health sector or natural resource sector based... both of which are pretty safe in times of economic downturn.

What sucks is that employers and HR dept's automatically assume cos one sector of IT is being screwed over by this "recession" it means that we all have to. I intended to move back to melb, but cos of this attitude by employers across the board, its no longer enticing enough to come back. On average the conditions of employment used to be negotiated to favour us, now they favour the employer. Fuck em... I'll just sit this one out till they decide there's an urgent need and I'll screw em over with demands.

[Tomek]

Work for the defence force, stable as ever... Just got a pay rise

Do feel sorry for all the people who get a straight cut and have dependants + home loans.

[justin911]

IT should be smooooooth sailing I rekon.

Clearly your confusing our banks with another countries, they said "She'll be right, mate"

The IT department is undergoing re-structure so everyone is edgy, I'm a consultant there so I should not be effected from what I can tell

However my company has cut ~80 jobs so far from its 1280 person workforce, I think more cuts may be occurring now as they tighten things up...

[ylwgtr2]

people that will shine here are people that are not affraid to work......people are panicing are like this "Oh no.....things are getting tight....i cant afford to sit on my arse on the weekends,im going to have to get a weekend job,how terrible" There is still plenty of work around if you stand out from the crowd and do something that specialise's in something......Put all your eggs in one basket and your in trouble i say....I cant say that i can and will feel sorry for anyone at all as in this situation you will make your own destiny.Ive worked for people in the past and to be honest with you ive never understood sick days or holidays.....you dont go to work....why should you get paid?????I come from a family of 5 brothers and 1 sister,the old man was at work mostly 7 days a week(for a small business as an employee) and things were tight for dad always,but dad was good at what he did and wasnt afraid to bust his nuggets to look after the family.As a result of that,us kids were taught that there is no such thing as a free ride,you want nice stuff you need to work and buy it.I remember getting up at 5am,doing 2 paper rounds,getting to school just in time,wasting time untill 3.30pm then back on the bike to an afternoon paper round and ended up on the corner of churchill avenue and ballarat rd selling newspapers untill it got dark just so i could buy myself a motorcross bike and start racing

[cosmic starz]

seems like very tough times ahead everwhere, even the Indian steel mogul who bought a whole steelworks in Bulgaria for a massive price just 2 years ago has now just abandoned and walked away from the place - the former eastern bloc counties are as stuffed as the US and Europe etc

Our own politicians are between a rock and a hard place because if they tell the full truth about how bad things are getting and are likely to be in the future there will be panic and probably some people jumping off buildings, so they have to maintain a positive outlook - they have to convince you to spend as its the only way known to try to keep the economy active - is your self-protection and interest more importnat to you than the collective interest ? thats a question you will have to decide

in any case if you dont spend now, they will - with infrastructure projects financed thru future debt - so in the long run you will spend even if its only in the form of government debt repayment (taxes)

will the stimulus work ? will jobless numbers rise to 20% or more ? is there a quick solution? who knows, maybe there is'nt one and the global financial system has to work itself out over maybe a few or more very painful years

but it is a worry when the pundits here and overseas are now saying that the future trend will be larger numbers of self-employed (i.e. translate that to mean people who have found ways to survive outside any job and social welfare system, who may no longer even be registered for benefits or pay taxes thru to persons who have started their own business enterprise whatever that may entail and are doing OK)

in the USA (for those that have been there) you will recall the 100s 1000s who only come out at night roaming the freeways and more run-down inner-city areas who sleep in cardboard boxes on the pavements in clusters covering whole neighbouhoods such as those near the transport hubs of Los Angeles, and whose main income is from picking up trash, cans, etc /crime/you name it - maybe this is what will happen here if the social economic and financial system does not recover in next 5 years

for the moment the motto among the more affluent seems to be cash is king - time to liquidate those unnecessary assets (GTR s and holiday homes -see how many expensive cars and luxo mega buck holiday homes are for sale right now) and covert to cash - hunker down, and await whatever happens next

and if you got a job pray you keep it

[West]

We don't really got affected by the recession YET we're still facing staffs cut due to the opening of 2 more companies, one in Perth and the other in QLD .

[Josh33]

I'm also an electrician, me and 3 other workmates got the chop a few weeks ago- due to not enough work etc.

One scarey thing is when looking at jobs online (might be just my industry) how little there is going..

Stuff i wouldnt touch with a 10ft pole a year ago (maintenance) is now about all there is on offer.

Meh it'l all even out eventually though